Top Executive of London-Based Aon Offloads Shares
Aon plc (NYSE:AON) is one of the two companies that registered striking insider selling over the past several trading sessions. Stephen P. McGill, Group President of Aon and CEO of the Risk Solutions business segment, discarded 46,698 Class A ordinary shares on Tuesday at prices ranging between $107.78 and $108.70 per share. Following the recent sale, Mr. McGill currently owns 252,071 Class A ordinary shares.
The shares of the London-based provider of risk management, insurance and reinsurance brokerage have gained 19% since the start of the year. Aon plc (NYSE:AON)’s second quarter revenue decreased by $39 million year-over-year to $2.8 billion, reflecting a 2% unfavorable impact from foreign currency exchange rates and a 2% decrease in commissions and fees related to net divestitures. These effects were partially offset by organic revenue growth of 3%. The company’s HR Solutions segment was hit by price compression in its benefits administration business, while its Risk Solutions segment was impacted by foreign currency exchange rates and a negative market impact in its Reinsurance business. Jonathan Bloomberg’s BloombergSen acquired a new stake of 535,905 shares of Aon plc (NYSE:AON) during the second quarter.
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This Diversified Global Manufacturer’s CEO Discards Some Shares
The man in charge of Dover Corp (NYSE:DOV) also recently filed to report the sale of a sizable block of shares. President and CEO Robert A. Livingston jettisoned 25,927 shares on Tuesday at prices between $68.92 and $69.77 per share. Mr. Livingston currently holds a direct ownership stake of 192,630 shares.
Dover Corp (NYSE:DOV) operates as a diversified global manufacturer that offers equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. In early-July, the company agreed to acquire Wayne Fueling Systems for $780 million in cash. The soon-to-be-acquired company manufactures fuel pumps, as well as retail technology such as point-of-sale systems for fuel stations. The deal is anticipated to close in the second-half of 2016. Dover’s second quarter revenue decreased by 4.1% year-over-year to $1.7 billion, mainly reflecting continued weakness in its U.S. oil and gas-related end markets. Dover shares are up by 15% year-to-date. Ken Griffin’s Citadel Advisors had nearly 945,000 shares of Dover Corp (NYSE:DOV) in its portfolio at the end of March.
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